New Grant Programs for Veterans to Start Business

New grant programs for veterans for start or develop their own business are in effect: the government’s decision. According to the statement of the Ministry of Economy of Ukraine, on 30.03.2023, the Cabinet of Ministers of Ukraine adopted a decision (Resolution No. 286), which provides for the expansion of the eRobota project and the launch of new grant programs for veterans to start or develop their own business.

What programs

In particular, under mentioned new programs it is possible to receive a grant in the amount of:

  • UAH 250,000 – for a combatant and/or a person with a disability due to the war, provided that one workplace is created. This also applies to veterans registered as individual entrepreneurs;
  • UAH 500,000 – for a family member of a combatant and/or a person with a disability due to the war, provided that two workplaces are created;
  • UAH 1 million – for a combatant and/or a person with a disability due to the war, who has been registered as a individual entrepreneur for at least 3 years, provided that four workplaces are created, at least two of which will be occupied by other combatant and/or a person with a disability due to the war.

Grants of UAH 500,000 and UAH 1 million will be provided under the condition of co-financing by the recipient in a ratio of 70/30, that is, the recipient of the grant must invest 30% of his own funds in his business, the other 70% of funds will be provided by the state in the form of a grant.

What can grants be spent on

The entrepreneur can use the grant funds for the purchase of equipment, materials, rent of premises and vehicles necessary for the implementation of his business project, purchase of licensed software, payment for marketing and advertising services.

Applications for grants can be submitted from 10 April 2023 by the Diya portal. To do this, a potential recipient of the grant have to fill out an application and outload a business plan.

Who approves the granting

The decision to provide a grant will be made by the State Employment Service within 15 working days after receiving information from the bank, checking the reputation and information in the application, as well as the results of the interview with the recipient conducted by the regional employment center.

In addition, the Resolution provides for the opportunity for grant recipients to undergo free training on entrepreneurship and receive consultations at regional employment centers.